Here is a long term bull case for the stock market: currently the largest asset class is real estate. But as the world population stabilizes, real estate will

Here is a long term bull case for the stock market: currently the largest asset class is real estate. But as the world population stabilizes, real estate will lose much of its value as a lazy way to protect capital from inflation. There will be rebalancing of the global capital portfolio from real estate into the stock market. If real estate was securitized and turned into a liquid public electronic exchange, this transition would be even faster. Long term I am bullish on the stock market until it becomes a much larger percentage of the global wealth.